Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 36.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 785,419 shares of the company's stock after acquiring an additional 210,523 shares during the period. American Century Companies Inc. owned approximately 2.97% of Palomar worth $82,932,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of Palomar in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC grew its stake in Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares during the period. Jones Financial Companies Lllp boosted its stake in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC increased its position in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after acquiring an additional 324 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Trading Up 0.1 %

Shares of NASDAQ PLMR traded up $0.17 during midday trading on Friday, hitting $136.77. The company's stock had a trading volume of 191,182 shares, compared to its average volume of 170,637. The business's 50 day moving average is $120.41 and its two-hundred day moving average is $107.73. The firm has a market cap of $3.65 billion, a P/E ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $137.89.

Remove Ads

Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. On average, analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares of the company's stock, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 552 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total transaction of $68,039.52. Following the completion of the transaction, the chief financial officer now owns 15,683 shares in the company, valued at approximately $1,933,086.58. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,455 shares of company stock valued at $3,911,340. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their target price on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $127.83.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.